Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: THURSDAY, November 23, 1995 TAG: 9511240029
SECTION: BUSINESS PAGE: B-8 EDITION: HOLIDAY
SOURCE: ELISSA MILENKY STAFF WRITER RADFORD
DATELINE: LENGTH: Short
The arsenal employs about 1,200 people, a number that has steadily declined with national defense downsizing. As recently as four years ago, the plant employed more than 3,000 people.
The ammunition plant's Edina, Minn.-based commercial operator will add three extra years to eligible employees' ages and years of service, in effect increasing their pension benefits, said Nicole LaMarr, the plant's spokeswoman.
The offer will be extended to those who meet the retirement qualifications - at least 50 years of age with 10 years of service at the plant. That offer includes people who will turn 50 by Jan. 31.
In May, 92 hourly employees who met the same age and service requirements accepted a pension and severance pay option to retire by the end of that month. There have been at least three other calls for voluntary retirements at the plant during the past six years, LaMarr added, but incentives rarely were offered in those cases.
The eligible workers will receive pension calculations and other information next week, the company said. They will have 21 days to decide whether to accept the incentive.
Alliant is waiting to see how many people retire before deciding if further job cuts, including layoffs, will be necessary, LaMarr said. ``We should know by the end of the year how many are going to take the offer . hen we'll have to reassess it," she said.
by CNB